Dynamic Economics

"Dr. Chow points out that the too-little-known direct Lagrangian procedure delivers all the optimal solutions that the popular indirect-utilities method can deliver, and does so more economically in the sense that redundant laborious calculations of any indirect utilities can be avoided...it is regrettable if the popular indirect method has eclipsed attention by scholars from the efficient and effective direct Lagrangian approach. We are all in Gregory Chow's debt for a cogent and needed important reminder."--Paul Samuelson, Pacific Economic Review "Dynamic Economics convinced me of the usefulness of the Lagrange method....The book is very clear and easy to follow; applications are interesting and clearly treated."--Alberto Bisin, Massachusetts Institute of Technology "Dr. Chow points out that the too-little-known direct Lagrangian procedure delivers all the optimal solutions that the popular indirect-utilities method can deliver, and does so more economically in the sense that redundant laborious calculations of any indirect utilities can be avoided...it is regrettable if the popular indirect method has eclipsed attention by scholars from the efficient and effective direct Lagrangian approach. We are all in Gregory Chow's debt for a cogent and needed important reminder."--Paul Samuelson, Pacific Economic Review "Dynamic Economics convinced me of the usefulness of the Lagrange method....The book is very clear and easy to follow; applications are interesting and clearly treated."--Alberto Bisin, Massachusetts Institute of Technology